Waaree Energies Q3 Results Net profit surges 260% YoY to ₹507 crore; revenue up 117%

Waaree Energies Q3 Results: Net profit surges 260% YoY to ₹507 crore; revenue up 117%

Waaree Energies Q3 Results: Strong Profit Growth Despite Rising Costs

Waaree Energies Ltd. announced its third-quarter (Q3) results on January 30, delivering an impressive 260% year-on-year (YoY) jump in net profit to ₹507 crore compared to ₹141 crore in the same period last year. The company’s performance was driven by strong revenue growth, although rising expenses also played a role.

Revenue and Expenses See a Sharp Rise

Waaree Energies’ revenue from operations surged 117% YoY, reaching ₹3,458 crore in Q3 FY25, up from ₹1,596 crore in the corresponding quarter of the previous year.

However, the company also reported a significant 88% increase in total expenses, which rose to ₹2,855 crore, compared to ₹1,517 crore in Q3 FY24. The rise in costs was primarily due to higher raw material prices and increased investor expenses.

The company’s core business segment—Solar Photovoltaic (PV) modules—recorded a 122% jump in revenue, generating ₹3,108 crore, up from ₹1,402 crore a year ago. This underscores Waaree Energies’ strong market presence in the solar sector.

Stock Market Performance

Following the Q3 results, Waaree Energies’ share price closed 0.82% lower on Thursday, January 30, settling at ₹2,190.65, compared to ₹2,208.70 in the previous session. The results were announced after market hours.

The stock has seen a 52-week high of ₹3,740.75 on November 6, 2024, and a 52-week low of ₹2,030 on January 1, 2025, based on data from the BSE. As of January 30, 2025, the company’s market capitalization stood at ₹62,933.69 crore.

Investor Returns and Market Sentiment

Despite the strong financial performance, Waaree Energies’ shares have delivered negative returns of 28.68% since its listing in November 2024. On a year-to-date (YTD) basis, the stock has declined 21.91% in 2025.

While the company’s revenue and profitability remain strong, investor sentiment may be influenced by broader market conditions and rising operational costs. However, with its solid position in the solar energy sector, Waaree Energies remains a key player to watch in the renewable energy space.

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